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Budget 2016: Maximising FTA implementation

Hon Todd McClay

Minister of Trade


1 June 2016
Media Statement

Budget 2016: Maximising FTA implementation


The 2016 Budget invests an additional $4.6 million over four years into FTA (Free Trade Agreement) implementation.

Trade Minister Todd McClay says this new investment will support New Zealand businesses in extracting full value from New Zealand’s network of FTA Agreements.

“New Zealand currently has FTAs with economies that account for more than half our trade. This will increase to 70 per cent once the Trans Pacific Partnership (TPP) enters into force.

“New Zealand has scored high quality FTAs, but the benefits come from Kiwi businesses taking advantage of them. Ensuring businesses have the information and tools for this to happen requires ongoing, co-ordinated cross government FTA implementation work.

“This new investment will support the development of new tools to help business understand and use FTAs. Our tariff finder, for example, has made it a lot easier for SMEs to identify the FTA that gives them the best competitive edge in their export markets. This new money will also help us get improved commitments in FTAs when these come up for review, such as in services, investment, and addressing non-tariff barriers that exporters face.

“This is particularly important as new FTAs come on line. That’s why for example under TPP we have committed to 18 roadshows and Hui around the country to help businesses prepare for its entry into force, and have developed practical online resources for all New Zealanders.

“There is a lot of information for businesses, as they plan for export growth. We want them well equipped to identify and seize new opportunities under all FTAs,” says Mr McClay.

ends

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